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Riverstone Announces C$760,000 Private Placement

Riverstone Announces C$760,000 Private Placement

May 22, 2008 Symbols: TSXV - RVS; Frankfurt - 3RV

Not for dissemination in the USA or through US newswire services

Riverstone Resources Inc. (“Riverstone” or the “Company”) announces that it has agreed to sell on a non-brokered private placement basis 2,000,000 units ("Units") of the Company at a price of C$0.38 per Unit for gross proceeds of C$760,000. Each Unit consists of one common share of the Company and one half of one non-transferable share purchase warrant. Each full share purchase warrant will be exercisable to purchase one additional common share of the Company for a period of 18 months from the date of issue at a price of C$0.60 per share. In the event that the Company’s common shares trade on the TSX Venture Exchange at or above a weighted average trading price of C$1.20 for a period of 20 consecutive trading days at any time after four months and one day after the closing date, the Company may accelerate the expiry date of the warrants by giving notice to the holders thereof and in such case the warrants will expire on the 30th day after the date on which such notice was given by the Company. A finders fee may be payable for a portion of the private placement. The finders fee and private placement are subject to regulatory approval. Securities issued pursuant to the private placement will be subject to a hold period of four months and one day from the closing date.

The net proceeds of the private placement will be used to provide working capital for the Company and funds for further exploration of the Company's gold projects in Burkina Faso.

This news release does not constitute an offer to sell or a solicitation of an offer to sell any of the securities in the United States. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the "U.S. Securities Act") or any state securities laws and may not be offered or sold within the United States or to U.S. persons unless registered under the U.S. Securities Act and applicable state securities laws or exemptions from such registration requirements are available.

Riverstone Resources Inc. is active in gold exploration in Burkina Faso, West Africa, where the company holds an extensive portfolio of high quality exploration permits covering 3,500 square kilometres. For further information about the company and its activities, please refer to the company’s website at and under the Company’s profile at

“Michael D. McInnis”
Michael D. McInnis, P.Eng., President & CEO

For further information contact:
Vancouver Office:
Michael D. McInnis, President
Phone: 604.801.5020

Investor Relations:
Trent Dahl, Ascenta Capital Partners
Phone: 604.684.4743 ext 228
Toll Free: 1.866.684.4743

The TSX Venture Exchange does not accept responsibility for the adequacy or the accuracy of this release.

Statements in this news release respecting use of the proceeds of the private placement are forward-looking and are based on the assumption that the placement will be fully subscribed and closed. There is no assurance that the private placement will close on the proposed terms, that all necessary approvals will be obtained or that proceeds of the anticipated amount will be raised, in which case the Company may be required to adjust its exploration plans and/or seek financing from alternate sources.